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To: Lizzie Tudor who wrote (35286)	4/21/1999 6:06:00 PM
From: Cynic 2005	Read Replies (3) \| Respond to of 86076

<<do you still feel this way? (that a big downturn is coming). >> Yes I do feel this way. I am not a TA type either, but I do pay attention that voodo science. -g- I am saying it from the perspective of liquidity (my observation only, of course). Broadbased rally days are only a handful since GreenSpam bailed the suckers out in October. Off late it is increasingly evident that one sector has to take a good hit before another sector can get a lift. Only thing that will change this scenario is a new high on NASDUNG by end of next week. We will have to see who will be the leader in that rally. <<Gnet reported today a blowout. >> You suppose the stock is very cheap and the "blow-out" is not priced in? -g- Goodluck on these mo-mo stocks. Remember one thing, when the music stops, not one but a vast majority of the players will be out of this musical chairs game. Take it from the guy who has been there and done that. Having executed my stop loss philosophy dutifully, I have missed huge run-ups on three mo-mo stocks - EGRP, PCNTF and SWS. If I didn't get stopped out earlier on EGRP, PCNTF, I would have sold them at around 85 and 75 the way up. Oh well, that is life! Re. IBM earnings, They debt is up 2% and book value is down 2.6%, YoY. That too when tax rate went down. Go figure! I am looking at MYSW as a possible mo-mo candidate. Any opinion on that one? PS: You might ask - if I feel so strongly that a sell-off is imminent, why should I cover my DELL short? Well, I have to stay in the game for another day. Also, the mo-mo game is what I play the most in my IRA where I can only go long.

To: Lizzie Tudor who wrote (35286)	4/21/1999 10:45:00 PM
From: Bonnie Bear	Read Replies (2) \| Respond to of 86076

michelle: we're just concerned that the internets are virtual companies riding on levitation of synthetically-generated stock and moving on daily options volatility..the options are incredibly profitable for the brokerages...they make money on volatility, the indexes are riding up on options trading volume. The big money-center banks and brokerages just create whatever they need to balance the equation so they can make a profit on the trade. Nobody knows how big this off-balance-sheet derivatives market is, or who all the players are...the LTCM thing was a warning, like telling you if you want to double up your bets, do it now because the craps table is closing soon. The real money dried up last year. You, on the other hand, are using real money. At least I don't think you are using synthetic money. The big boyz don't lose money when the thing goes down, you do. Based on FA nearly all of the internet companies will go bankrupt in a few years even with your charity donations to their stock fund. So don't buy because of FA, don't buy because of TA; buy because this is the biggest casino ever devised by mankind, you like gambling and you think it is fun. Earnings have nothing to do with it. The brokers have to keep the POSs levitated long enough to justify an outrageous price for Goldman Sachs IPO, because they all get a cut. I don't see much reason for them to keep it going after that time. After all, all the brokers run hedge funds, and they have to make money shorting the stuff on the way down, including each other's stocks.